In a most unexpected turn of events, the XRP community has been left slack-jawed as a mysterious exchange-traded fund proposal emerged, cloaked in secrecy. The filing, submitted to the SEC by none other than GraniteShares, whispers of a 3× leveraged XRP ETF, a creation designed to magnify the altcoin’s daily fluctuations. A bold new chapter in the saga of crypto, isn’t it?
Now, let’s temper our excitement. This isn’t the Spot XRP ETF that every investor and their dog have been waiting for. But its appearance, like the first ray of light before dawn, signals the slow, creeping recognition of XRP in the institutional corridors of power in the U.S.
GraniteShares: The Brave Proposal of a 3× Leveraged XRP ETF
In a filing that could have easily slipped under the radar, GraniteShares has laid out a plan to list a 3× leveraged XRP ETF. The idea? To provide traders with three times the daily returns of XRP’s spot performance. So, if XRP makes a modest one percent jump, this ETF would rise by a full three percent (and lose three percent if the altcoin stumbles). A delightful toy for short-term traders eager to chase every ripple, while long-term holders can sit back, sighing in their eternal wait for something meaningful.
GraniteShares, in its relentless quest for innovation, also revealed ambitions for similar leveraged products linked to Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). But let’s not ignore the moment-this is one of the very first attempts to bring such a leveraged fund to XRP since the regulatory fog has started to clear over it in the U.S. Could this be a sign of something bigger? Only time will tell.
The funds, as they usually do, reset daily. But here’s the kicker: GraniteShares seeks approval for this XRP-related ETF as a means of positioning the token squarely back in the sights of Wall Street. If things go according to plan (and who wouldn’t love a good twist?), these ETFs are expected to launch by December 2025, joining the ranks of ProShares Ultra XRP ETF, Teucrium, and Volatility Shares-all pushing daily exposure through futures contracts. Exciting stuff, right? Or is it? 🙄
The Altcoin Needs Good News Like This
To say XRP has been a wallflower in the crypto dance of late is an understatement. Its price action has been sluggish, to put it gently, and it’s been eclipsed by the dramatic pirouettes of Bitcoin and Ethereum. Recently, on-chain data suggests a growing disillusionment with the token-negative sentiment has reached a six-month high, and traders are feeling the sting of watching other top coins surge ahead.
Why this lackluster performance? Simple. XRP’s movements have been shackled by a lack of momentum-building events. Meanwhile, Bitcoin and Ethereum have been basking in the glow of strong institutional inflows. Enter GraniteShares’ ETF proposal at precisely the right moment. Is it enough to give XRP a shot in the arm? Perhaps-at least for now. Major financial players may still have a soft spot for XRP, or at least for products related to it.
The leveraged ETF proposal is a welcome breath of fresh air, though it pales in comparison to the revered Spot ETFs. Let’s face it, the crypto world has been chewing its nails, waiting for the approval of a Spot ETF for XRP. But, alas, those hopes remain delayed, tangled in the U.S. government’s ongoing shutdown debacle. Classic, isn’t it?
As of the latest update, XRP is hanging around $2.83, down a modest 1% in the last 24 hours. So much for progress. 🤷♂️
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2025-10-10 05:19